NET Power Inc
For the period ended Dec 31, 2024. Filed Mar 10, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 10, 2025
NPWR$0.84-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| Successor · Predecessor | |||
|---|---|---|---|
| Period From · Period From | |||
| June 8, 2023 · January 1, 2023 | |||
| Year Ended | through | through | |
| December 31, 2024 | December 31, 2023 | June 7, 2023 | |
| Cash flows from operating activities: | |||
| Net loss after income tax | $(164,644) | $(141,816) | $(34,176) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation, amortization, and accretion | 81,623 | 44,974 | 5,802 |
| Non-cash interest (income) expense | (2,742) | — | 30 |
| Non-cash lease expense | 199 | 200 | 13 |
| Loss on disposal of property, plant and equipment | — | 7 | — |
| Conversion of equity awards | — | 86,585 | — |
| Allowance for doubtful accounts | — | — | 352 |
| Deferred taxes | (10,580) | (5,707) | — |
| Change in fair value of Earnout Shares liability and Warrant liability | 25,656 | (27,648) | — |
| Vesting of profits interests | — | — | 2,864 |
| Vesting of Earnout Shares | — | 1,118 | — |
| Share-based compensation expense | 33,666 | 14,122 | 8,593 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | 58 | (58) | — |
| Interest receivable | (989) | (1,942) | — |
| Prepaid expenses and other current assets | 47 | (1,102) | 1,312 |
| Other long-term assets | (625) | — | — |
| Accounts payable | 2,475 | (1,957) | 1,768 |
| Accrued liabilities | 4,024 | (5,297) | (384) |
| Due to related parties | 183 | 142 | 3,203 |
| Net cash used in operating activities | (31,649) | (38,379) | (10,623) |
| Cash flows from investing activities: | |||
| Cash acquired as part of the Business Combination | — | 7,948 | — |
| Purchase of short-term investments | — | (100,000) | — |
| Purchases of available-for-sale securities | (169,894) | — | — |
| Maturities of available-for-sale securities | 71,075 | — | — |
| Capitalized software | (1,203) | — | — |
| Purchase of property, plant and equipment | (68,651) | (9,217) | (2,431) |
| Net cash used in investing activities | (168,673) | (101,269) | (2,431) |
The accompanying notes are an integral part of these consolidated financial statements
Consolidated Statements of Cash Flows (continued)
(In thousands)
| Successor · Predecessor | |||
|---|---|---|---|
| Period From · Period From | |||
| June 8, 2023 · January 1, 2023 | |||
| Year Ended | through | through | |
| December 31, 2024 | December 31, 2023 | June 7, 2023 | |
| Cash flows from financing activities: | |||
| Repurchase of redeemed Class A Ordinary Shares | $— | $(218,983) | $— |
| Issuance of Class A Common Stock, including exercise of Warrants | 19 | 74 | — |
| Payment of income taxes on vested share-based payment awards | (130) | — | — |
| Distributions to members | — | (181) | — |
| Proceeds from PIPE financing, net of issuance costs | — | 540,451 | — |
| Issuance of equity under JDA as a result of the Business Combination | — | 9,917 | — |
| Payment of transaction expenses | — | (11,722) | — |
| Payments on finance lease obligations | (67) | — | — |
| Tax-related partnership distribution | (4,751) | — | — |
| Proceeds from share issuances | — | — | 15,836 |
| Net cash (used in) provided by financing activities | (4,929) | 319,556 | 15,836 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (205,251) | 179,908 | 2,782 |
| Cash, cash equivalents, and restricted cash, beginning of period | 536,927 | 357,019 | 5,164 |
| Cash, cash equivalents, and restricted cash, end of period | $331,676 | $536,927 | $7,946 |
| Supplemental non-cash investing and financing activities: | |||
| Change in accruals for capital expenditures | $(1,320) | $2,937 | $668 |
| Remeasurement of lease liabilities and right-of-use assets due to lease modification | — | 1,472 | — |
| Operating lease right-of use asset acquired | 959 | — | — |
| Finance lease right-of-use asset acquired | 349 | — | — |
| Revision of estimated asset retirement obligation | 996 | — | — |
| Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet: | |||
| Cash and cash equivalents | 329,230 | 536,927 | 7,946 |
| Restricted cash | 2,446 | — | — |
| Total cash, cash equivalents, and restricted cash | $331,676 | $536,927 | $7,946 |
The accompanying notes are an integral part of these consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.